Pinnacle Entertainment, Inc. (NASDAQ:PNK) had its price target increased by Telsey Advisory Group from $27.00 to $28.00 in a report published on Thursday. Telsey Advisory Group currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on PNK. BidaskClub cut shares of Pinnacle Entertainment from a buy rating to a hold rating in a report on Tuesday, June 20th. Zacks Investment Research cut shares of Pinnacle Entertainment from a buy rating to a hold rating in a report on Thursday, July 13th. Finally, Stifel Nicolaus reissued a hold rating and set a $23.00 price objective on shares of Pinnacle Entertainment in a report on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $21.80.

Shares of Pinnacle Entertainment (NASDAQ:PNK) traded up 0.62% during midday trading on Thursday, hitting $24.52. 406,548 shares of the stock traded hands. The firm has a market capitalization of $1.42 billion, a PE ratio of 86.95 and a beta of 1.30. Pinnacle Entertainment has a 52 week low of $11.36 and a 52 week high of $24.94. The company’s 50-day moving average is $21.38 and its 200 day moving average is $21.38.

Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.07). Pinnacle Entertainment had a net margin of 0.68% and a negative return on equity of 8.88%. The company had revenue of $653.60 million for the quarter, compared to analysts’ expectations of $647.36 million. During the same period in the previous year, the firm earned ($8.04) earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts anticipate that Pinnacle Entertainment will post $0.77 earnings per share for the current year.

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In other Pinnacle Entertainment news, EVP Neil E. Walkoff sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $19.14, for a total transaction of $1,148,400.00. Following the completion of the sale, the executive vice president now directly owns 282,076 shares of the company’s stock, valued at $5,398,934.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jaynie M. Studenmund sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $19.89, for a total transaction of $397,800.00. Following the sale, the director now directly owns 78,230 shares of the company’s stock, valued at $1,555,994.70. The disclosure for this sale can be found here. 8.33% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC increased its holdings in Pinnacle Entertainment by 0.6% during the second quarter. Sterling Capital Management LLC now owns 52,670 shares of the company’s stock valued at $1,041,000 after buying an additional 289 shares during the last quarter. Prudential Financial Inc. increased its holdings in Pinnacle Entertainment by 0.8% during the second quarter. Prudential Financial Inc. now owns 39,897 shares of the company’s stock valued at $788,000 after buying an additional 330 shares during the last quarter. SG Americas Securities LLC increased its holdings in Pinnacle Entertainment by 10.4% during the first quarter. SG Americas Securities LLC now owns 14,145 shares of the company’s stock valued at $276,000 after buying an additional 1,338 shares during the last quarter. Voya Investment Management LLC increased its holdings in Pinnacle Entertainment by 7.5% during the second quarter. Voya Investment Management LLC now owns 28,303 shares of the company’s stock valued at $559,000 after buying an additional 1,974 shares during the last quarter. Finally, Nationwide Fund Advisors increased its holdings in Pinnacle Entertainment by 5.3% during the second quarter. Nationwide Fund Advisors now owns 48,356 shares of the company’s stock valued at $956,000 after buying an additional 2,428 shares during the last quarter. 89.59% of the stock is owned by institutional investors and hedge funds.

About Pinnacle Entertainment

Pinnacle Entertainment, Inc is an owner, operator and developer of casinos and related hospitality and entertainment businesses. The Company operates through three segments: Midwest, South and West. The Company’s Midwest segment includes Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St.

Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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